Petrogulf Misr’s production rates have increased to 6.700 barrel/day due to firm’s strategy within the last 8 months of current fiscal year, said Gharieb Abdel Atty- CEO of Petrogulf- on Sunday.
The chairman asserted that Petrogulf is intending to expand its drilling and development plans within the upcoming period.
Petrogulf Misr Co. was formed as a joint venture company between the Egyptian General Petroleum Co. (EGPC), Pico GoS Petroleum Co. Limited and Kufpec (Egypt) Limited.
Abdel Atty added that firm’s concession areas are located in shallow water archipelago in the South-Western entrance of the Gulf of Suez about 80 km northwest of Hurghada city. The concession areas include Geisum and Tawila West fields.
Moreover, the chairman pointed out that firm’s production plan for upcoming period targets boosting production rates to reach 7.000 barbell /day, approximately, to satisfy needs of citizens, and industrial & commercial sectors through putting development projects on production plan according to planned schedules.
